How do I use Credit card cheques?
When you receive your credit card, you will also receive some credit card cheques in the post.
These are supplied as a convenient way of taking money from your credit account- to pay off other credit cards, loans or bills - or simply to put straight into your bank account. It's an easy way of covering a payment when you do not have the ready cash. The other way to perform this same transaction is to ring up the credit card issuer and arrange a balance transfer.
Rates of interest are charged on these cheques, varying between credit card companies, and they may be subject to a handling charge of 2%. The interest and handling charges will be made clear to you on the letter accompanying the cheques, and you should read this information carefully before using the cheque. The charges will usually be the same as for cash withdrawals.
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